-
Concerned about legal risk of going sole trader
I have been in business almost 18 year now. Just a small business. I am kind of starting from scratch with a new business. The last few years has been terrible for me and I am now at the lowest point I have been in many years. I am normally a very positive glass half full type of person. Nothing seems to be going my way.…
-
Arrangements for getting paid outside of PAYE
I have recently got a first time opportunity to be paid directly for a service that I provide. I was wondering what would be the best way to log these earnings with the HMRC? I recently made my company dormant because it was not earning anything from the time it was incorporated. However, I've just had a slight…
-
Register trading name while earning less than £1K
Hello all, I am interested in setting up as a sole trader with a business name (trading name) for my ad-hoc freelance work. My income has been less than £1,000 annually so far, but I'd like to make it more professional and trade under a business name (and get paid via a sole trader bank account). Here's the problem, since…
-
Looking for door handles for rental flat
Hi, I have just bought a flat to rent out but the door handles need replacing - looking at buying in bulk so I can keep a few spare. Just wondered if anyone can recommend any good suppliers?
-
Selling Current Stamps at "discounted" prices
When I was self-employed I bought LOTS of stamps - mostly 1st and 2nd class though some which had the acutal price printed on eg 10p. I bought the bulk of them about 20 years ago. I started counting them for the "swap out" scheme to get them swapped like for like with the barcoded but then realised I have *way* too much…
-
Self Employed Carer Liability Insurance
Hi - does anyone have any suggestions for providers of Liability insurance for self employed carers? "Simply Business" who seem to be on all the comparison sites no longer cover the care sector. SB suggested Biba who say that their brokers require carers to be CQC registered in order to quote. Any thoughts??
-
Is it too late to change tax period? Fine
Hi,I set up a ltd company oct 2020.I was just fined £100 for not sending in the accounts for oct-april.I send in april to oct and they sent it back saying its too soon.I have my accounts made oct-oct. So question is do I just contact them about changing the accounting period to oct - oct or because ive been fine is it too…
-
New Electricity supply
Hello! We are in the process of having electric to our shed (agricultural). We have had the cabling done by Manweb, who is local to our area, but they do not supply electric to business. So we need to find the best company to arrange a supply from. Our home electric is supplied by Scottish Power, but after several hours on…
-
Commercial Property Let
Hi, I am looking to rent a small business unit and have been in discussions with the landlord. We have agreed the general terms for the lease at which point he asked me to submit a Note of Interest on the property. I had assumed once we agreed the terms he would have his lawyer adapt a fairly standard template, he'd send…
-
Client won't pay - is a Statutory Payment or Small Claims Court a better choice?
So after many months happily freelancing I've finally had a client who won't pay. It's an £800 job, part of which are expenses so I'm actually out of pocket on this one. Client said they were happy with the finished products and going to pay but nothing. Multiple emails, phone calls etc. and no response. So to get my money…
-
A Question about Limited Company Dividend Payments
Hi all, I have a question about how to pay myself in dividends as a limited company. I'm a little confused about how this is more tax efficient than just taking my income as a sole trader, hoping anyone can help clear that up for me. Background and my (presumably flawed) understanding of the setup with questions in bold:…
-
My tax is getting a bit complicated
I've been registered self employed since 2002 and have run various businesses. Always as a sole trader and was pretty on the the ball with tax etc. However things have now got complicated. When covid hit, my clients all shut down (most in wedding industry). I claimed the first 3 SEISS payments but eventually I decided to…
-
Income/Expenses tracker tips?
Hi everyone. I'm self-employed and anything to do with maths/numbers in general has never been my strong point to say the least! I know I need a way to keep track of my income and expenses, both for my business and personally, but I'm struggling to find a way that I can keep up with. All the apps I've seen are either far…
-
Offsetting tax - sole trader business + PAYE job
Hi all, I have a full time PAYE salaried job, and have just started a small part time sole trader business, which doesn't make much money at the moment. If I were to make a profit loss one year from my sole trader business, can I offset the loss on the tax I pay on my PAYE job, and claim the tax back later from HMRC ?…
-
Self employment mileage claim question....
Hi - I am thinking of becoming a self employed carer. Most of my work will be in a town 10 miles away. I wouldn't charge clients my travelling costs from home to their home but can I offset this cost against my profits (ie 20 miles per day at 45p a mile)? I've had a read of some of the guidance out there but still unclear.…
-
Self Assessment
I used to be self employed a few years ago and completed self assessments so I have a self assessment utr. I became employed and didn't need to complete a self assessment. I'm looking to start doing some freelance work so I will need to do another self assessment, do I need to tell the tax man now that I'm doing freelance…
-
Future courses
I am early on the journey to wanted to set up a small gardening business but i have made a start. I have recently passed my pesticide training and am now looking for more training that will help in the future for setting up.(Any suggestions on courses people have done that they thought was a big help, please let me know.)…
-
Shed in garden for a workshop
I've been making stuff by hand to sell on in a shed (Self employed/sole trader). Recently upgraded it, basically used the base but the rest was new. Thought it would count as an asset and be treated as a capital allowance but apparently sheds in residential gardens don't count :'( Could I put the cost down as an expense as…
-
Self Assessmewnt
I used to be self employed a few years ago and completed self assessments so I have a self assessment utr. I became employed and didn't need to complete a self assessment. I'm looking to start doing some freelance work so I will need to do another self assessment, do I need to tell the tax man now that I'm doing freelance…
-
Advice on launching a new App
Hello. I am a single parent, with a dependant child, working part time on minimum wage. I have an idea that I belive would be really successful, it involves launching a new App. However, I do not have IT skill any higher than level 2 and therefor I am unable to design the App with out any professional help. Also, the…
